Stocks Drop Despite Nvidia's Big Rally

Dow falls 600 points in worst day since March 2023. 


 
Expect Higher-for-Longer Interest Rates, Fed's Bostic Says

Atlanta Federal Reserve President Raphael Bostic expects to hold interest rates steady until it is clear that inflation is heading back to 2%. 


 
Japan Consumer Inflation Grows at Slower Pace in April

Consumer inflation grew at a slower pace in April but remained above the Bank of Japan's 2% target amid growing expectations over additional interest-rate increases. 


 
U.K. Consumer Confidence Improves as Inflation Cools Further

Confidence among U.K. consumers rose a little in May, with easing inflation and the expectation of falling Bank of England interest rates set to boost Britons' spending power. 


 
Ether ETFs near debut as crypto's Washington win streak continues. Here's what it means for markets.

U.S. regulators took a major step forward Thursday toward green-lighting a spot ether exchange-traded product that could potentially lead to mainstream adoption of the world's second-most popular cryptocurrency. 


 
SEC Widens Accessibility of Crypto Investing With Approval of ETFs for Ether

The new funds will allow mainstream investors to buy and sell the cryptocurrency as easily as stocks or mutual funds. 


 
Boost for World Economy as U.S., Eurozone Accelerate in Tandem

Global economic growth is becoming more broad based, with surveys indicating that business activity in both the U.S. and the eurozone gained momentum in May. 


 
Home builders are slashing prices to lure home buyers, but it may not be enough

New home sales at 634,000 annual rate in April, versus 665,000 in prior month. 


 
Jobless claims fall again to 215,000. Strong labor market fuels U.S. economy.

The number of Americans who applied for unemployment benefits last week fell again to 215,000, reaffirming that layoffs are low and the economy is being buoyed by a strong labor market. 


 
Washington's Pivot on Bank Rules Could Free Up Tens of Billions

By reducing additional capital requirements, banks would be freer to reward shareholders and clients.


(END) Dow Jones Newswires

05-24-24 0115ET